Lumentum Holdings Inc. (NASDAQ:LITE) rose 0.8% during mid-day trading on Wednesday . The stock traded as high as $34.99 and last traded at $34.82, with a volume of 329,373 shares traded. The stock had previously closed at $34.55.

LITE has been the subject of several recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $35.00 price objective on shares of Lumentum Holdings in a research report on Wednesday, June 15th. MKM Partners raised their price target on shares of Lumentum Holdings from $28.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 20th. Zacks Investment Research lowered shares of Lumentum Holdings from a “buy” rating to a “hold” rating in a report on Thursday, May 5th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $38.00 price target (up from $32.00) on shares of Lumentum Holdings in a report on Saturday, August 13th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Lumentum Holdings in a report on Monday, August 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $33.35.

The stock has a 50-day moving average price of $30.75 and a 200-day moving average price of $26.39. The firm’s market cap is $2.09 billion.

Lumentum Holdings (NASDAQ:LITE) last posted its earnings results on Tuesday, August 9th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.05. The business earned $241.70 million during the quarter, compared to analyst estimates of $238.52 million. During the same quarter last year, the firm earned $0.15 earnings per share. Lumentum Holdings’s revenue was up 15.7% compared to the same quarter last year. Analysts anticipate that Lumentum Holdings Inc. will post $1.84 earnings per share for the current year.

In other Lumentum Holdings news, CEO Alan S. Lowe sold 174,222 shares of Lumentum Holdings stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $34.03, for a total value of $5,928,774.66. Following the completion of the sale, the chief executive officer now directly owns 38,880 shares in the company, valued at $1,323,086.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Vincent Retort sold 1,523 shares of Lumentum Holdings stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $33.96, for a total transaction of $51,721.08. Following the completion of the sale, the chief operating officer now owns 587 shares of the company’s stock, valued at $19,934.52. The disclosure for this sale can be found here.

Lumentum Holdings Inc (Lumentum) is a provider of optical and photonic products. The Company’s products are used in a range of end markets, including data communications (Datacom) and telecommunications (Telecom) networking, and industrial and commercial lasers (commercial lasers) for manufacturing, inspection and life-sciences applications.

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